What figure to enter from K-1 line 20 code Z stmt?

[Jabe]

Here is how I solved this.  Go to Form and to the line where the error message takes you.  Then scroll down on the form until you find a section called Section A (it's on a linked worksheet I think but it seems continuous). There you will find a line, or several lines, to re-enter the total or totals from the statement at the end of the K-1, under codes Z.  In my case, there were figures from rental income, and section 1231, and some figures relating to the total asset value.  I just put in the rental income.  It did not make a bit of difference in the tax calculation BTW.

[Rose30]

I still was not able to fix the error message for Line 20, Code Z. It still appears in red after I entered the information again on Section D1.

This is an LLC owned by me and my husband as 50/50 partners & we each received a K-1.  I entered the K-1 separately.    I did them the same.  My husband's K-1 has no errors, but no matter what I try my K-1 keeps coming up with an error on Line 20.

[AmyC]

You may need to delete your k-1. Review your entries on his and then redo yours. You may have a piece of data that is stuck for some reason. 

For stuck information follow these steps:

1. Delete the form, see How to Delete 
2. Log out of your return
   1. Try one or more of the following:
      • Don't use Internet Explorer.
      • Clear cache and cookies,
      • Sign in using a different browser.
      • Sign in using a different device.
3. Log back into your return.
   • Enter the form again.

[swillovit]

I'm filing a joint 1099 & my K1 has box 20 checked Z* STMT the Statement has a rental loss of -1,156 & UBIA of qualified Property 52,798. I've tried inputting all these figures but I keep getting an error which doesn't allow me to efile. 

What do I do 

[RuelP]

I found out that if I checked Business Income on the "We need some information about your 199A income" page that it pops up the a place to enter

Ordinary business income (loss)

Rental Income (loss)

Royalty Income (loss)

Other Income (loss)

I was looking for the rental income for a long time but I assumed the Business income was just for ordinary business income.

[sgiitb85]

You are correct. It is disappointing that Turbotax does not lay it out very clearly where and how they will ask for data. And the definition of these terms change. K-1 definitions separate out Business income and rental income. But the query for 199A inputs treats it as a global question that further needs to be defined through inputs. And then finally, you have to go through all forms in turbotax to make sure that TT has'nt left filling out certain forms to you. And they do it without any warning.

[RAM_TTI]

Thank you for figuring this out. It worked for me. I am good to go on Fed return.

Surprising that Intuit could not answer the question even with the abundance of BS.

This is clearly a TurboTax issue. The 'error view' and any fix applied is not linked back to the

K-1, therefore it just repeats the same error over and over until you go to forms and

fix it on the K-1 itself.

Very poor job ... INTUIT.

[RDT3]

Savior!!! I've been going around for a couple of days trying to clear four messages when I did the final review. Tried all kinds of numbers in K-1 part III box 20 code Z. * STMT. Turbo Tax has great help file - only problem is trying to find the specific answer. This answer finally did the trick. I don't full understand what it did but I followed the instructions as closely as I could understand them and problems cleared and I was able file. Thanks.

[jstahl]

This is a screenshot from my K1. On my personal taxes, under box 20, "Z" it just says "STMT". Do I put zero since there's nothing in tis 199A section?

[Anonymous_]

---

@jstahl wrote:

.....under box 20, "Z" it just says "STMT". Do I put zero since there's nothing in tis 199A section?

---

No, you will enter that figure on Line 20Z and then enter it again under UBIA on one of the following screens.

[RDT3]

I'm a novice here myself. Don't know if I'm even doing this right. On my post I just said that I solved K-1 20 Z problem without saying how. Here's more on issue.

Like I said in earlier post, I didn't completely understand what I did, but whatever it was, solved the problem of getting errors when I did my reviews.

I was under the assumption that when the error was presented on the screen, that the error was on the form 1065, Box 20, code Z. I kept entering various numbers but nothing cleared the error(s) when I tried to file again.

Instead I switched to forms (upper right on screen) and went to section A of the K-1 form and got some income/loss numbers from there. Then went back up (same form K-1) and put those number for Box 20, code Z where "STMT" was before.

Hit the "+" to get to "supporting details" and entered Sch 199A, and income/loss numbers.

One more place to enter income/loss numbers, same form (K-1) section D1 down lower, on line asking for "ordinary business income/loss) enter same numbers as above.

Don't ask me what I just did, I don't understand it, but if you look to the left side bar, mine had a red (!) indication an error on that form. Once I entered as explained above, "red !" and I was clear. Do same for all the other K-1's that you have problems with.

[Traderthom]

I have the same problem, but in my case I have entered the amount and it shows as entered but I can't file electronically.  Everytime I try and file it circles back and asks me the same question again.  It is stuck in a do loop. How do I override it?

Thanks

[PatriciaV]

@Traderthom

Please clarify what version of TurboTax you are using. Also provide the exact message you are receiving when you attempt to e-file.

[ggk5198]

I hate K-1's and I could not figure out why the Federal Review kept flagging certain K-1's and not others about code Z. Your solution did the trick.

K-1's should be outlawed!

[sssrandall]

I am having this same issue.   I don't know what to enter in the "Z" box.   I leave it empty then a few screens later the 199A boxes come up.   What figure do I enter in the first box for 20-Z?  Where do I find this number?   There are EIN-Company's listed on the QBI Pass-through Entity Report page of the K1, also.  I'm lost on how to enter BOTH EIN's into turbo tax because it only allows 1